Volatility high on Carvana as battle lines drawn

|About: Carvana Co. (CVNA)|By:, SA News Editor

Carvana (NYSE:CVNA) is up 9.20% to carve out a post-IPO high of $16.84.

In just five trading sessions, share have jumped 30% as sentiment over the highly-shorted (29% short interest to float) stock has swung positive.

Some analysts think the market overreacted to the decline in used car prices. Carvana slid to as low as $8.14 after the IPO was priced at $15.

While investment firms (mostly underwriters) launched very favorable coverage on Carvana last month, SA contributors aren't so sure about the stock.